Fresh2 Group Ltd: debt financing — Fresh2 Group issues $200K convertible note with floor price $0.128; amends prior warrants

Fresh2 Group Ltd

Issued $200,000 convertible note to JAK OPPORTUNITIES V LLC on March 27, 2024.
Conversion price is lower of $1.86 or 10-day VWAP, with floor at $0.128 per share.
Company may prepay at 110% of outstanding plus 50% warrant coverage for shares issuable on conversion.
Warrant letter clarifies exercise price for prior warrants: aggregate ADS exercise price divided by 20 for ordinary shares.
Note bears interest at default rate of 18% per annum upon event of default.

item 1.01 item 2.03 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Fresh2 Group Ltd incurred convertible notes of $200,000 with an institutional investor.

Instrument: convertible notes
Principal: $200,000
Counterparty: an institutional investor
Event: incurrence

Exact text from the filing

On March 27, 2024, the Company issued $200,000 of its convertible notes (the “Convertible Note”) to the Investor.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Fresh2 Group Ltd amended Securities Purchase Agreement with an institutional investor (effective 2024-03-27).

Action: amendment
Agreement: equity purchase
Counterparty: an institutional investor
Effective: 2024-03-27

Exact text from the filing

resh2 Group Limited (the “Company”) entered into a securities purchase agreement (the “Securities Purchase Agreement”) with an institutional investor (the “Investor”) to purchase (i) $400,000 of its convertible notes and warrants to purchase

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299 debt financings filed in the last 30 days. Browse all debt financings →

Source: SEC EDGAR

accession 0001213900-24-029345

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